Morgan Stanley is forecasting that Cisco (CSCO) could be entering a new period of lasting growth. According to **** yst Meta Marshall, the company appears to be entering a "more durable growth phase," as quoted by Seeking Alpha. The firm also has an "Overweight" rating on the tech giant with a price target of $135. Fueling that call are several key catalysts, including upgrades with networking equipment, demand for artificial intelligence, and cybersecurity.
One of the biggest catalysts for Morgan Stanley's bullishness is that Cisco's customers are still in the early stages of upgrading their networking equipment. As of now, Marshall says that only about 7% of Cisco's Catalyst 4K and 6K (switches that are used by companies to connect computers, phones, servers, and other devices together) have been updated so far. That means there are still plenty of other companies that will need to upgrade.
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One of the biggest catalysts for Morgan Stanley's bullishness is that Cisco's customers are still in the early stages of upgrading their networking equipment. As of now, Marshall says that only about 7% of Cisco's Catalyst 4K and 6K (switches that are used by companies to connect computers, phones, servers, and other devices together) have been updated so far. That means there are still plenty of other companies that will need to upgrade.
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2 months ago
